Turning Point Brands (NYSE:TPB) Hits New 12-Month Low – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $61.00 and last traded at $62.5560, with a volume of 89448 shares trading hands. The stock had previously closed at $68.14.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Oppenheimer decreased their price objective on shares of Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research note on Friday, August 28th. BTIG Research restated a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Finally, Compass Point set a $116.00 price objective on Turning Point Brands in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.00.

Turning Point Brands Stock Performance

The company has a market cap of $1.17 billion, a PE ratio of 25.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. The firm’s 50 day moving average is $79.16 and its 200-day moving average is $82.60.

Turning Point Brands (NYSE:TPB) last released its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.11. The business had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The business’s revenue was up 22.6% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. On average, research analysts anticipate that Turning Point Brands, Inc. will post 1.23 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Turning Point Brands’s dividend payout ratio (DPR) is presently 13.73%.

Institutional Trading of Turning Point Brands

Several large investors have recently added to or reduced their stakes in TPB. BlackRock Inc. acquired a new stake in shares of Turning Point Brands during the 2nd quarter worth about $137,273,000. Bank of America Corp DE acquired a new position in shares of Turning Point Brands in the 2nd quarter worth approximately $47,278,000. Maple Rock Capital Partners Inc. lifted its holdings in shares of Turning Point Brands by 57.5% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock worth $58,248,000 after acquiring an additional 250,800 shares during the last quarter. Madison Avenue Partners LP purchased a new position in shares of Turning Point Brands during the 4th quarter worth approximately $26,853,000. Finally, Copeland Capital Management LLC boosted its position in shares of Turning Point Brands by 99.4% during the 1st quarter. Copeland Capital Management LLC now owns 407,208 shares of the company’s stock worth $35,342,000 after purchasing an additional 203,020 shares during the period. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a consumer-products company focused on branded products for the tobacco, smoking-accessory and modern oral categories. Its portfolio includes rolling papers, wraps, smokeless tobacco, nicotine pouches and related products marketed under established brands.

The company’s principal brands include Zig-Zag, which offers rolling papers, cones, wraps and smoking accessories; Stoker’s, known for smokeless tobacco products; and FRE, a brand of nicotine pouches. Turning Point Brands also develops and distributes other alternative and specialty products through its brand portfolio.

Turning Point Brands sells its products primarily through convenience stores, tobacco and vape retailers, specialty retailers, distributors, e-commerce channels and other consumer outlets in the United States, with some products available internationally.